The downtown master plan for Clayton, Missouri, is closer to becoming a reality thanks to a new parking lot development and a redevelopment effort by the City of Clayton.
Clayton officials announced last week that they have negotiated a $1.1 million deal with Indianapolis-based developer Flaherty & Collins Properties to sell the city-owned parking lot at 8049 Forsyth to make way for a proposed luxury apartment building at the corners of Brentwood Boulevard and Forsyth Avenue.
The proposed project will include a 25-story apartment building with 250 units with penthouse suites and 10,000 square feet of street-level retail. Amenities include a rooftop saltwater pool, Sky Bar, outdoor kitchen with grilling stations, courtyard, balcony views, yoga studios, fitness center, bike repair and storage and pet wash.
The project will receive no tax incentives and is full taxable.
The location was one of the top areas for redevelopment identified by Clayton residents during the 2010 Downtown Master Plan process. The current surface parking lot has 29 metered spaces and 100 leased spaces, and is owned and operated by the City of Clayton.
In 2016, Clayton issued a request for proposals to redevelop the surface parking lot to move forward with the Master Plan vision. The surface parking lot currently does not provide any revenue for Clayton schools and other taxing district despite its prime location across from Shaw Park. As part of the sale agreement, the project’s parking garage will provide at least 29 public spaces to serve nearby restaurants and coffee shops.
Flaherty & Collins Properties have similar projects in Indianapolis, Cincinnati and Tulsa, in addition to luxury mixed-use developments in the Minneapolis/St. Paul, Kansas City and Chicago regions.
